If I file my federal return one day after the tax deadline, will I have to pay a tax deadline penalty or interest?
If you owe tax, you usually will. However, you won’t pay a late taxes penalty or interest if you’re:
- Receiving a refund
- Outside the country while serving in the military
- Living in a federally declared disaster area
If you have a balance due, the IRS can assess both of these:
- Late-filing penalty — 5% of the balance due per month up to 25%
- Late-payment penalty — 0.05% (or part of a month), up to 25% of the tax due
The IRS charges interest on unpaid tax from the return’s due date until the date of payment.
The IRS made a change to the Making Work Pay and/or Government Retiree Credit on your tax return. Learn more about IRS notice CP12M from H&R Block.
While you are in an IRS installment agreement, you will receive a CP289 yearly. Learn more about notice CP289 from the tax experts at H&R Block.
If you haven't filed tax returns in awhile, there are things you need to know. Learn how to address back tax returns and what you can expect when you file.
The IRS has contacted third parties to help figure out what you owe. Learn more about letter 3173 from the tax experts at H&R Block.